Transactions processed through the payroll process

Question : Transactions processed through the payroll process : 2134255

26) Transactions processed through the payroll process include all of the following except:

A) payments to employees for services rendered.

B) payments to independent contractors for services rendered.

C) accrual of social security taxes.

D) payment of unemployment taxes.

27) Vouching selected items from the payroll register to employee time sheets that have been approved by supervisory personnel provides evidence that:

A) internal controls relating to payroll disbursements were operating effectively.

B) payroll checks were signed by an appropriate officer independent of the payroll preparation process.

C) only bona fide employees worked and their pay was properly computed.

D) employees worked the number of hours for which their pay was computed.

28) Which of the following activities most likely would detect whether payroll data are accurately processed?

A) Monitor authorized distribution of data control sheets.

B) Use computer-assisted audit techniques and test data to verify the accurate performance of payroll processing.

C) Examine source documents for approval by supervisors.

D) Segregate duties between approval of hardware and software specifications.

29) Which of the following procedures would normally be performed by the auditor when conducting tests of payroll transactions?

A) Interview employees selected in a statistical sample of payroll transactions.

B) Trace a sample of payroll checks to the master employee list.

C) Confirm amounts withheld from employees' salaries with proper governmental authorities.

D) Examine signatures on paid salary checks.

30) A substantive test of transactions to test the completeness assertion includes:

A) tracing a sample of time sheets to the payroll register.

B) testing a sample of payroll checks for the presence of an authorized time sheet.

C) testing postings to the payroll register for a sample of payroll checks.

D) recomputing the accuracy of a sample of payroll checks.

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